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Italian central bank authorizes Creval unit for lending activities

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Italian central bank authorizes Creval unit for lending activities

Credito Valtellinese SpA said its fully owned subsidiary Creval PiùFactor SpA received approval from the Banca D'Italia SpA to carry out lending activities.

Creval PiùFactor was established by Creval in May with the aim of developing the Italian lender's factoring business in both with and without resource forms in favor of its clients.

Creval noted that the initiative was consistent with its 2018-2020 business strategy and will allow it to strengthen its services dedicated to small and medium-sized enterprises, with a positive impact on profitability.